Vanguard Group Inc. Decreases Stake in APA Corporation $APA

Vanguard Group Inc. cut its position in shares of APA Corporation (NASDAQ:APA) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,026,441 shares of the company’s stock after selling 749,231 shares during the period. Vanguard Group Inc. owned approximately 12.31% of APA worth $1,068,962,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in APA. Deseret Mutual Benefit Administrators boosted its position in shares of APA by 276.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock valued at $29,000 after acquiring an additional 891 shares during the last quarter. CVA Family Office LLC raised its stake in APA by 6,096.7% during the second quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock valued at $34,000 after purchasing an additional 1,829 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in APA during the third quarter valued at $34,000. Spire Wealth Management lifted its position in APA by 179.6% during the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock valued at $37,000 after purchasing an additional 977 shares during the last quarter. Finally, MAI Capital Management grew its stake in shares of APA by 76.5% in the 2nd quarter. MAI Capital Management now owns 2,134 shares of the company’s stock worth $39,000 after buying an additional 925 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Stock Down 0.1%

Shares of NASDAQ:APA opened at $29.06 on Friday. The firm has a market capitalization of $10.31 billion, a PE ratio of 6.99, a price-to-earnings-growth ratio of 13.28 and a beta of 0.74. The business has a 50 day simple moving average of $25.82 and a two-hundred day simple moving average of $24.23. APA Corporation has a 1 year low of $13.58 and a 1 year high of $30.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.78 and a quick ratio of 0.78.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Wednesday, April 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, April 22nd. APA’s dividend payout ratio (DPR) is currently 24.04%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on APA shares. UBS Group upped their target price on shares of APA from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Piper Sandler upped their price objective on APA from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 18th. Capital One Financial lowered their price objective on APA from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Friday, January 9th. TD Cowen raised APA to a “hold” rating in a research report on Monday, February 9th. Finally, Zacks Research lowered APA from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Seven investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.39.

APA Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.